One baht of diesel excise tax to be cut for three months to decrease people burden

Chatrudee Theparat

One baht of diesel excise tax to be cut for three months to decrease people burden

Deputy Government Spokesman Rudklao Suwankiri said the cabinet approved to reduce the excise tax for diesel oil by one baht, taking effect from January 20 to April 19, 2024.

Rudklao Suwankiri

The Excise Department estimated that the measure would cost the government two billion baht a month in state revenue, or six billion baht in total.

The government implemented the policy to reduce diesel oil and gasoline between February 18, 2022 to December 31, 2023, totalling a one year and eight months, which led to the government’s revenue loss of 172 billion baht totally.

She said the policy is in line with the government policy to curb diesel oil price not to more than 30 baht per litre in a bid to decrease burden among Thai people.

“The government has a strong committment to complete the energy structure by this year in order to make more fairness in energy sector and cut burden among the public.”

In a separate development, the cabinet approved an expenditure budget of 6 trillion baht totally in fiscal budget 2025 while the government expected its revenue collection to reach 3.45 trillion baht.

The deficit budget is at 713 billion baht, up 20 billion baht or 2.89% from 2024 fiscal budget. The deficit accounts for 3.56% of the total budget.

Net revenue is projected at 2.88 trillion baht, up 100 billion baht from 2024 fiscal budget. Regular budget is at 2.71 trillion baht, up 180 billion baht or 7.14% from 2024 fiscal budget.

Investment budget totals 742.30 billion baht, up 24.57 billion baht or 3.42% from 2024 fiscal budget, accounting for 20.62% of the total budget.

The Thai economy in 2025 is projected to grow between 3.1-4.1% thanks to the global economy and trade volume which helps drive Thai exports. Its better outlook is driven the stronger production sector, private investment, private consumption and a recovery of the tourism industry at the normal level.